UPDATE: Queen Elizabeth is Reportedly Set to Retire from Royal Duties

Queen Elizabeth II is set to retire from her royal duties in 18 months, to make way for Prince Charles to assume the throne.

According to New York Post, HRH Elizabeth will still be the Queen, in title, but with Prince Charles taking over the day-to-day running of the royal family.

The 93-year-old monarch is reportedly weighing stepping down around her 95th birthday, the same age that her husband, Prince Philip, withdrew from his royal duties.